The Globe and Mail reports in its Wednesday, Oct. 18, edition that Canaccord Genuity analyst Doug Taylor has lowered his recommendation for Computer Modelling Group to "hold" from "buy." The Globe's David Leeder writes that Mr. Taylor, however, upgraded his share target by $1.75 to $10. Analysts on average target the shares at $9.33. Despite the negative rating turn, Mr. Taylor says he likes Computer Modelling's "strong underlying fundamentals." He says he issued his rating downgrade because of recent share price appreciation. Mr. Taylor says in a note: "A combination of robust energy prices and supportive industry sentiment, along with leading indicators such as normalized recurring revenue growth in recent quarters (up 11 per cent year-over-year in FQ1/24), suggest demand remains solid in CMG's core end-market and with a rising share of energy transition business (22 per cent of FQ1 mix) showcasing management's execution in expanding the TAM [total addressable market]. WTI now trades at almost $88/bbl, up 9 per cent year-to-date though down from $94 per barrel in late September as recent supply concerns were calmed by Saudi Arabia's commitment to stabilize the market and amid inventory stockpiling progress."